No, except for laundry quarters, and a check for the rent, I use my debit card for everything else.
I guess it depends on one’s circumstances. The purchase transaction is noticeably quicker for me now that all I have to do is swipe my card and type in a pin, rather than digging cash out of a pocket, handing it to a cashier, and waiting for change.
Gifts for my friends who are much luckier at nautical adventure than I am…
Yes, at least in the US.
With a small purchase, like grocieries, “paying cash” means paying in actual physical currency (e.g. benjamins, jacksons, etc.). If you pay with a check, debit card, or credit card, then you did not “pay cash”, you paid with a check, etc.
With a large purchase, such as a car or home, “paying cash” means paying it all upfront without financing any of it with a loan. It is irrelevant that the money changes hands in the form of a check or a debit card transaction. Thus, if I walk onto a car dealership, agree on a price, then write them a check for the full amount against my bank account, and drive off the lot, I “paid cash” for the car.
Basically, the rule is whether or not the item is commonly financed with a specialized loan. If it is, paying without getting a loan constitutes paying cash. Cars and homes are commonly financed. Computers, appliances, etc., while they could be purchased on loan (either through a rent-to-own place or with an ordinary credit card), are part of group #1 and one wouldn’t speak of “paying cash” except possibly in a context where a special loan was expected to be taken out.
Yes, you can’t steal my bank information from a cash transaction. I get a discount for gas when cash is used.
I rarely use a card except in situations where I can watch it being handled.
Large objects would be handled with a check which I fill out in a specific way as a method of controlling authenticity.
I like my debit card but as someone who has worked for several small businesses I encourage people to use cash , especially for small purchases.
Swipe fees , that are in the news now, are a huge expense to every business, but especially for small business on minor purchases. In many cases the swipe fee eats up all the profit for small items, or even costs them a little to sell you something. I’ve had customers use a credit or debit for 1 or 2 dollars quite often. I hear the “why should I care” argument a lot, but IMO, one way of reacting to the banks lobbying and fees etc. is for average Americans to make a minimum effort to help out their local businesses rather than their banks.
My ‘slush fund’ is all cash, but it’s not much (I have $40 in my slush fund at the moment, but I’ve had as much as $400-$500 in it).
We use the debit card or checking account for pretty much everything. We keep a little cash on hand for the kids’ field trips, or tooth fairy money, or what-have-you, but again, very little. Probably less than $20 between my wife and I at any given time.
I use cash almost exclusively. But I don’t make many large purchases either.
My grandfather recently bought like $800 worth of furniture and used cash.
I hope you can get rid of those ridiculous fees.
Here in Norway the swipe fee a business pays for debit cards is about 3 cents per purchase, and terminal rent and bank service is about $100/month. Swiping credit cards are more expensive, though.
eta: I rarely use cash by the way. Too much bother.
I love my debit card, but most purchases under $30 I still use cash. But I don’t agree it’s faster, by any means - the debit card just swipes, put in the PIN, and I am usually done by the time she is done scanning my stuff. Then take the receipt, and run.
Cash on the other hand has change that I have to stash.
Oh, I forgot, I do use cash at the liquor store 'cause there’s a discount.
I’m actually writing a short story where the main character tries to purchase a new car with cash (which he does not know is counterfeit). However, due to my lack of experience in car buying, I think I’m going to change the scene a bit.
I started a thread here asking car dealers if people actually pay for cars in cash and the people who responded said that it’s not all that uncommon.
Zev Steinhardt
My understanding is that for larger purchases, credit cards are cheaper for stores than debit cards. Am I right?
I use cash for smaller purchases, my Discover card for larger ones, because of the cash back. I never use the debit card except for Costco which only takes AmEx. One good thing about cash for small restaurant bills is that you can leave the entire payment - food and tip - on the table and not wait to get your card and slip back.
I prefer using cash for most small transactions. Helps budget my money. I withdraw a $100 for the week. Make it last for eating lunch, groceries, snacks etc. When you see your money disappear then you naturally will spend less. I don’t need that coke at Wendys after all. Drink water instead.
Blindly swiping a debit card scares the crap out of me. Too easy to spend twice as much on daily purchases.
I use my debit card for gas (usually $60 to fill up), and other high dollar purchases (family meal at a steak house). Makes no sense to wipe out all my cash for a big purchase.
I pay all bills online, put some of my pay in savings, and then withdraw the rest in cash. That’s my spending/gas/food/going out money for a pay period. If I make a large purchase, say over $100 or so, I would use my credit card. I find I make better spending decisions with cash than with cards.
Anything under 20 bucks gets paid for in cash.
and you don’t run the risk of someone stealing your CC info.
I think fees vary and stores can negotiate , which again leaves small independent businesses on the short end.
My understanding , although I never handled the specific paperwork, is that CCs have a swipe fee and a % of purchase. The % of purchase can depend on average amount, so smaller amounts drive the cost up.
A debit card used as debit is just the swipe fee, with no %, so cheaper in the long run. Also , different cards are more expensive. Discover and AmEx are more expensive to the merchant. They offer cash back and miles etc to encourage people to use them for everything , which again, costs the merchant, and ultimately the customer. So, good for you for using cash for smaller purchases even with the bonuses.
Often a debit has an upper limit that people aren’t aware of until they go to use it for a large purchase.
Sometimes. I usually have cash on me so that I can split checks when I’m out with friends, and my local gas station is 50 or 70 cents cheaper (total, not per gallon) if I pay with cash. Other than that, not frequently.
the owner of a local liqueur store said your record of liqueur purchases on CC might be used against you in court.
I find cash to be quicker for small purchases, for two reasons. First, with my debit card, I need to record each transaction to keep track of how much I have, and that takes significantly longer than handing over bills and getting change. With cash, all I have to do is open my wallet and glance inside, no accounting necessary. Second, even if cards are quick in normal circumstances, circumstances aren’t always normal. Sometimes the data connection to the bank is on the fritz. Sometimes the magnetic strip just doesn’t want to be read. Sometimes, when you’re swiping the card yourself, you’ll find a machine with a weird setup (possibly mislabeled) where you have to swipe the card two or three times to figure out which side of the slot the reader is on. Sometimes you’ll have one of those problems and think it’s a different one, and waste time on the wrong solution. Cash almost never has problems like that.